Bloomberg the Company

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Sacyr Shares Decline After Exane BNP Cuts Target: Madrid Mover

Don't Miss Out —
Follow us on:

March 28 (Bloomberg) -- Sacyr Vallehermoso SA, a Spanish construction company, fell in Madrid trading after Exane BNP Paribas cut price targets for some Spanish builders, citing weak domestic demand.

Sacyr dropped 1.6 percent to 2.37 euros, the lowest since April 1993, valuing the Madrid-based company at 1 billion euros ($1.33 billion).

Exane cut Sacyr’s share-price target to 4.3 euros from 4.5 euros, while reiterating its “outperform” recommendation on the stock. “Sacyr remains our distressed (albeit riskier) valuation call,” Antonio Lopez, an Exane analyst, wrote in a report sent to investors today.

Exane also cut price targets for other builders. Fomento de Construcciones & Contratas SA was reduced to 19.5 euros from 21.5 euros and Cementos Portland Valderrivas SA was cut to 5.5 euros from 6.5 euros. “Refinancing risk will continue weighing on FCC and Cementos Portland,” according to the report.

FCC shares fell 3.2 percent to 16.60 euros and Cementos Portland declined 3.4 percent to 6.63 euros.

To contact the reporter on this story: Manuel Baigorri in Madrid at;

To contact the editor responsible for this story: Kenneth Wong at